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Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 1 November 2012 - onwards
  Version 2 of 2    

131C. Short selling rules: definitions etc

Repealed from 1 November 2012

(1) This section supplements section 131B.

(2) The cases in which a person ("S") engages in short selling in relation to a financial instrument (a "shorted instrument") include any case where -

(a) S enters into a transaction which creates, or relates to, another financial instrument; and

(b) the effect (or one of the effects) of the transaction is to confer a financial advantage on S in the event of a decrease in the price or value of the shorted instrument.

(3) "Financial instrument" has the meaning given by Article 4.1(17) of the markets in financial instruments directive.

(4) "Relevant financial instrument" means a financial instrument that - (a) is admitted to trading on a regulated market or on any other prescribed market in an EEA State; or (b) has such other connection with a market in an EEA State as may be specified. 

(5) "Specified" means specified by short selling rules.

(6) "UK financial instrument" means a financial instrument that is admitted to tra

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